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we'll get an indication of where the economy is going and where it's been. volatility, people also watching apple k. it regain $500, that's been, you know, a lot of chatter here and there. and then on the equities side, 1471.25 on s&p futures the high back a few days ago. if we could break through the level, you will see increased fund flows, more money coming to the market to the long side. and it seems like, you know, i'm really -- surprised because the debt ceiling concern and talks, it's been pretty much nonexistent on the industrial -- >> the markets at fresh five-year highs. >> yeah. it's all because we had the fiscal cliff. and it was so volatile coming into it. we saw some massive swings and massive breakdowns coming into it. it seemed like the market was all over the place. with the debt ceiling, everyone thinks they'll kick the can, raise the debt ceiling up, or get resolved within -- >> that mean the market's at risk? it would seem yes, right? >> see, if you -- my opinion of what will happen is if there's any small breakdown in it, you know, if th
we'll get an indication of where the economy is going and where it's been. volatility, people also watching apple k. it regain $500, that's been, you know, a lot of chatter here and there. and then on the equities side, 1471.25 on s&p futures the high back a few days ago. if we could break through the level, you will see increased fund flows, more money coming to the market to the long side. and it seems like, you know, i'm really -- surprised because the debt ceiling concern and talks,...
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Jan 16, 2013
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grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this debate is about the bigger picture of the role the federal government plays in americans' lives, and he said that's not a debate he wants to have. he doesn't want to be cutting entitlement programs just because conservatives want to reduce the role of government in americans' lives. is it possible we're having two simultaneous debates at once here? >> well, he's got to reconcile the differences. almost like saying i know i'm overweight but don't ask me to go on a diet. i mean, there's got to be efficiencies found in the federal government. the fact that we're cutting spending doesn't mean that
grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this debate is about the bigger picture of...
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Jan 16, 2013
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the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just -- there's housing, sales of pickups. sales of cars in europe for 2012, not so good. we'll talk about that. >> germany, the bmw sales, volkswagen sales. one of my cousins in mexico is near a bmw, new plant. the germans are down. they're buying like crazy. germany business, good. rest of the continent okay. ford cutting back very dramatically. >> boeing, more problems related to the dreamliner. japanese grounded their 787 for safety checks. the national transportation safety board, faa are going to japan to assess that incident. when the first problems arose last week, week
the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just --...
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Jan 14, 2013
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economy. so guess what? the stock market is up as the consensus earnings estimate has come down. and so the bear aurchlt lacks an intellectual continuity where they were right on the earnings estimates come down, but they've goes to explain. so you think the as specs further identity are improving as we got past the tax cliff. we're going to get past the spending clip in an ugly way. you have to depend on washington, d.c. to give you some banana republic action before we get to the middle of 2013. but in the middle of 2013, we'll know what all of the rules are. and i think the capital spending orders are going to come back and reinforce the housing improvement that you described as well as a pretty good auto market. >> we are talking all day today because everybody got their paycheck and it is definitely smaller. it's always smaller t beginning of the year. but is there any way that there is a headwind from people just not having as much money? >> yes, there's a headwind for the economy and we
economy. so guess what? the stock market is up as the consensus earnings estimate has come down. and so the bear aurchlt lacks an intellectual continuity where they were right on the earnings estimates come down, but they've goes to explain. so you think the as specs further identity are improving as we got past the tax cliff. we're going to get past the spending clip in an ugly way. you have to depend on washington, d.c. to give you some banana republic action before we get to the middle of...
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a new day for the president and he will have to decide whether to use that authority to rescue the economy from catastrophe. i can see why the president would be restrained on it. he wants to negotiate number one. he wants congress to be responsible, number two. you know, in the past, the debt ceiling was an opportunity for grand standing by both parties. in fact, senator obama voted against the debt ceiling increase. but it's been weaponized now. it has gone beyond grand standing into lectures on fiscal responsibility to justify -- go ahead. >> i see that and i absolutely -- i understand that. but one of your colleagues yesterday, tom grays of georgia, says the president is wrong to think that the debt ceiling increase is a rubber stamp. those days are over. this is one of the last stop signs left and congress should use it. can't you see why some members of congress and many people in the general population feel that way. i mean, why -- you know, they feel, we have tried everything else but we can't get congress, washington, to listen to the imperatives on spending cuts and so, can't you
a new day for the president and he will have to decide whether to use that authority to rescue the economy from catastrophe. i can see why the president would be restrained on it. he wants to negotiate number one. he wants congress to be responsible, number two. you know, in the past, the debt ceiling was an opportunity for grand standing by both parties. in fact, senator obama voted against the debt ceiling increase. but it's been weaponized now. it has gone beyond grand standing into lectures...
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Jan 16, 2013
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the chinese economy is obviously a major and inner ene ener -- f iron ore. it looks that the fundamentals are in place for an aussie breakout. >> give us your levels, todd. >> sure. the australian dollar, technically speaking, is facing a breakout, 1.06. this is a range that's been in place for almost a year and a half. so, 1.06 is the entrillion on a weekly break. you want to take profit up around 110. >> all right, todd, thank you for that. todd gordon of aspen. and more money in motion every friday, 5:30 p.m. eastern time. tim, in terms of the iron ore, we saw big spikes in the price in fourth quarter in china. >> yeah, how about a vej mite sandwich, too? you have big chinese data coming out, but iron ore, goldman has that note out. watch that chart. >> let's play a little good, bad and ugly and tonight -- stars dan nay tan. first up, dan said to keep an eye on yahoo!. take a listen. >> the mighty goldman sachs reinitiated the stock with a buy of $22, 12-month price target. they say the sum of the parts is much greater. i actually agree. implied volatilit
the chinese economy is obviously a major and inner ene ener -- f iron ore. it looks that the fundamentals are in place for an aussie breakout. >> give us your levels, todd. >> sure. the australian dollar, technically speaking, is facing a breakout, 1.06. this is a range that's been in place for almost a year and a half. so, 1.06 is the entrillion on a weekly break. you want to take profit up around 110. >> all right, todd, thank you for that. todd gordon of aspen. and more...
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Jan 18, 2013
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economy hostage. they are saying no. we are holding the senate hostage it a debt limit increase, that's what they have to do and we will see how far they get with the proposal. if we do a short term extension of the debt limit we are going to make it be clean without conditions. and this is what the back and forth is going to be in the parties over the next couple of weeks. >> let's talk a little bit about two other major deadlines here. does this have any impact whatsoever john as far as can you see on the the impending so-called sequestering, which i believe kicks in sometime in the next six weeks or so. and then in late march, on the idea that the government will run out of money. there will be no authorization to spend anything more and the government could functionally shut down. is that involved here at all? >> not in a formal sense. but of course all of this is linked together, what the spending plans are to come up with cuts to avoid the budget sequester which neither party wants because it affects it in is indis
economy hostage. they are saying no. we are holding the senate hostage it a debt limit increase, that's what they have to do and we will see how far they get with the proposal. if we do a short term extension of the debt limit we are going to make it be clean without conditions. and this is what the back and forth is going to be in the parties over the next couple of weeks. >> let's talk a little bit about two other major deadlines here. does this have any impact whatsoever john as far as...
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Jan 16, 2013
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if you believe the economy is stable which we do. i still think the high yield market will generate couponed return this year. maybe a touch better. quite frankly we'd love to see spreads widen out a little bit. we've had quite a rally at the beginning of the year, actually toward the end of last year into the beginning of the year. we'd love to see it back up a bit to create better value in the high yield market. i still think it's going to be a good year especially if we believe equities are going to have a solid performance. >> enis? >> enis taner. you mentioned global markets the yields coming down. what do you think about emerging market bonds? i know you've mentioned you like them. but the yield differential between developed markets and emerging markets is certainly compressed in the last year. >> yeah, yeah. enis, the story is everything compressing in the last year. it is -- searching out opportunity becomes the upside is limited given where spreads have gone to. we do think, though, that there are still -- you're seeing in
if you believe the economy is stable which we do. i still think the high yield market will generate couponed return this year. maybe a touch better. quite frankly we'd love to see spreads widen out a little bit. we've had quite a rally at the beginning of the year, actually toward the end of last year into the beginning of the year. we'd love to see it back up a bit to create better value in the high yield market. i still think it's going to be a good year especially if we believe equities are...
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. >>> we are moments away from the fed's latest read on the economy. here is how the markets are doing. right now the dow lost its strength, down 23 point on the trading session. s&p is dead in the water all hour and nasdaq is actually up about 10 points on the trading session, ty? >> sue w, watch this story in algeria. that does it for "power lunch." thanks for joining us today. >> and "street signs" begins now with breaking news on the fed and economy. >> that's right, sue and tyler. we have boeing in crisis. we have housing on the mend and five-star stock picks. we've also got the very latest on a scary story in algeria where militants say they have taken 41 people hostage, include something americans, at a bp oil field. well get to that in a moment but let us get to breaking news for the fed and how they are performing and get to steve liesman. steve? >> the federal reserve district says economic growth is modest to moderate in all 12 districts. that's how we normally lead but that's not the most important. what is important is the talk about how f
. >>> we are moments away from the fed's latest read on the economy. here is how the markets are doing. right now the dow lost its strength, down 23 point on the trading session. s&p is dead in the water all hour and nasdaq is actually up about 10 points on the trading session, ty? >> sue w, watch this story in algeria. that does it for "power lunch." thanks for joining us today. >> and "street signs" begins now with breaking news on the fed and...
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economy. we'll see their economy return to growth. and you can't ultimately pay down debt until you've got economic growth. >> and just to get a little specific, what trades do you like then given the scenario that you're laying out? >> i think generally -- i think the story about europe is a global one because it's been the biggest drag on global growth. we've had a global confidence cries us that has prevented all of this cash -- if you look at u.s. companies, there's $2 trillion of cash -- >> trades, trades, pierce, trades. >> equities primarily. >> okay. >> and then you can pick. i think it's still going to be a macro move. you say trade, you want me to talk about sectors or geographic locations, fine. i think generally equities will go higher. peripheral europe will still outperform as will china. i like china particularly because it's undervalued. i think they're going to benefit from the european story. >> we'll talk about what needs to happen in the bond markets, as well. >> yes. >> in
economy. we'll see their economy return to growth. and you can't ultimately pay down debt until you've got economic growth. >> and just to get a little specific, what trades do you like then given the scenario that you're laying out? >> i think generally -- i think the story about europe is a global one because it's been the biggest drag on global growth. we've had a global confidence cries us that has prevented all of this cash -- if you look at u.s. companies, there's $2 trillion...
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Jan 17, 2013
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economy barely grew 1% in the fourth quarter. we have a situation where it could be sluggish in the first quarter. we're up five points on the s&p since december since we had qe3 and the fed indicating they would target unemployment. to us it feels like we're in the stratosphere. >> the market down 20%. isn't that recession you're talking about? >> you got to think there's a danger. doesn't have to be a recession. you have to think there's a danger. if you look at the dynamics, you look at the consumer confidence numbers which are beginning to roll a little bit, there is a danger that could take place and a lot will depend on the resolution. look at the vix and these low levels on this downward sloping trend line the pattern is very similar to april of 2011. i'm sure you all remember that the stock market held up a little bit longer and turned in may and then between may and august it dropped 22%. what was the biggest factor? the debt ceiling negotiations. >> tom the market really rolled over in the spring of 2011 because trichet
economy barely grew 1% in the fourth quarter. we have a situation where it could be sluggish in the first quarter. we're up five points on the s&p since december since we had qe3 and the fed indicating they would target unemployment. to us it feels like we're in the stratosphere. >> the market down 20%. isn't that recession you're talking about? >> you got to think there's a danger. doesn't have to be a recession. you have to think there's a danger. if you look at the dynamics,...
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Jan 15, 2013
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economy is being under valued. $1.4 trillion is the run-up and i expect the u.s. to outperform again. >> joey? >> i think the u.s. continues to do well and the ultimate indicator is where volatility is. it's incredibly cheap and remains -- insurance can be provided to protect your portfolio. i don't think that the ultimate concerns that the people have. >> we've got news on germany and the german economy, gdp is contracting. it was down half of a percent. in 011 it was up 3% n 2012 it was up .7%. they are the engine for growth there. i'm not sure it's going to work out for you in the first half of the year. for europe, i don't think it's undervalued. it's had a great run into the u.s. >> two major banks report earnings tomorrow. much of the conversation that we're having today certainly directed to what is going on with the banks and what it could mean for the markets. jpmorgan, goldman, ahead of the market tomorrow. joe t., you take yours? >> my position has been goldman sachs, be morgan stanley. it's been that way for a long time. i like the marketplace here. i
economy is being under valued. $1.4 trillion is the run-up and i expect the u.s. to outperform again. >> joey? >> i think the u.s. continues to do well and the ultimate indicator is where volatility is. it's incredibly cheap and remains -- insurance can be provided to protect your portfolio. i don't think that the ultimate concerns that the people have. >> we've got news on germany and the german economy, gdp is contracting. it was down half of a percent. in 011 it was up 3% n...
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debt as well as the global economy. according to rex macy it is. he thinks there's a good chance that risk fears will rise and, therefore, the market will pull back. will that be the moment for investors to get in. good to see you, gentlemen. thanks so much for joining us. what are you expecting in terms of this market 2013? >> sure. well, right now we're at 1472 on the s&p. we think it's going to go marginally higher from here, but it's not going to be a smooth ride. we've got a vix at 13 and change. that's too low. that's where the complacency comes from. you see it there. as we move into the debt ceiling debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it shou
debt as well as the global economy. according to rex macy it is. he thinks there's a good chance that risk fears will rise and, therefore, the market will pull back. will that be the moment for investors to get in. good to see you, gentlemen. thanks so much for joining us. what are you expecting in terms of this market 2013? >> sure. well, right now we're at 1472 on the s&p. we think it's going to go marginally higher from here, but it's not going to be a smooth ride. we've got a vix...
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what do you think that tells us on where we are in the economy? >> look at numbers of the last week or two, retail production numbers for december, and they were actually pretty good. of course, the employment numbers we already know were soiled, and this is in a period where the uncertainty over the fiscal cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of bothers me though is i'm a little bit worried that this coping is flipping over to complacency. the vix is now at a six-year low, and it tells me that the market is discounting 100% probability that we get through the debt ceiling without any trouble. that seems too high to me. >> so do you think the market is expecting that? i mean, when would you expect a big change in terms of the interest rate scenario? >> in terms of the interest rate scenario, probably nothing this year. i mean, we're at least a couple years away from a higher move -- a move higher in interest
what do you think that tells us on where we are in the economy? >> look at numbers of the last week or two, retail production numbers for december, and they were actually pretty good. of course, the employment numbers we already know were soiled, and this is in a period where the uncertainty over the fiscal cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of...
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Jan 18, 2013
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don't forget how large that economy is relative to the world economies so i think the market has nothing but not green shoots but blossoming flowers. go buy it. >> so why then, doc, are you still more cautious than the other guys? >> partly because, judge, i like owning options instead of owning equities. i just do. the only times i like owning equities are like for instance when joe and i fight about stocks with nice yield. i mean whether it's a verizon or whether it is intel, if i'm talking about a 4% dividend yielder that i can get in there and write options against it as well and take it to double digits on the return i like that. but i don't like buying apple. i don't like buying a lot of the stocks that don't have the yield, judge, that are attractive to me. instead, i trade the options. >> speaking of verizon i'm glad you mentioned it. next week is a bonanza earnings week. there are so many important companies reporting next week that that is going to decide where this market goes. don't you think? >> yes. the expectations in terms of what the potential growth for eps and the pote
don't forget how large that economy is relative to the world economies so i think the market has nothing but not green shoots but blossoming flowers. go buy it. >> so why then, doc, are you still more cautious than the other guys? >> partly because, judge, i like owning options instead of owning equities. i just do. the only times i like owning equities are like for instance when joe and i fight about stocks with nice yield. i mean whether it's a verizon or whether it is intel, if...
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the fed is spending 6% more m-2 every year and that's helping the economy. but the real driver of growth is technology. it's the entrepreneur. it's the innovator. it's the creator. we have the cloud, the spark phone, attacking all of these great new technologies and that's what i try to draw investors' focus on. let's not pay so much attention to what government is doing. let's look at what is causing growth underneath, what has always caused growth and that's entrepreneurial activity, innovation, and activity. we have a lot of it going on right now. >> finally, brian, housing is turning into a pretty nice tail wind here. i wonder, though, you see the ten-year at 285. >> right. >> how much can the market withstand if the 30-year mortgage continues to tick up? >> when we go back to the early 1990s when housing was pretty strong, interest rates were a lot higher than they were today. i think the fed is artificially holding rates down. we could have the federal funds rate at 2, 2 1/2 without any harm to the economy. we could take the ten-year treasury up to 3,
the fed is spending 6% more m-2 every year and that's helping the economy. but the real driver of growth is technology. it's the entrepreneur. it's the innovator. it's the creator. we have the cloud, the spark phone, attacking all of these great new technologies and that's what i try to draw investors' focus on. let's not pay so much attention to what government is doing. let's look at what is causing growth underneath, what has always caused growth and that's entrepreneurial activity,...
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chances are the economy is going to get better. wouldn't that make you want to buy stocks right now. >> it does. we're not -- we're actually a little bit more bullish, esespecially the first six months of the year. we still are expecting slow growth, commodities where we're shorting assets, but in terms of u.s. and in terms of international, we do expect growth, and we are excited about what's happening, but later on in the year i think it's going to be another story. >> what do you mean by that, later on in the year? what's going to be the upset later on in the year? >> there's a lot more issues coming out in terms of europe later in the year. right now it's all about -- it's all about expectations of positive growth that we have in the u.s., but, you know, we still have issues, and investors have got to focus on -- we've got an incredible spending problem. there's still problems in europe so we don't really believe that this year is going to be like last year, but we do expect small positive returns though. >> rick santelli, i wa
chances are the economy is going to get better. wouldn't that make you want to buy stocks right now. >> it does. we're not -- we're actually a little bit more bullish, esespecially the first six months of the year. we still are expecting slow growth, commodities where we're shorting assets, but in terms of u.s. and in terms of international, we do expect growth, and we are excited about what's happening, but later on in the year i think it's going to be another story. >> what do you...
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the economy is morrow less back on track. we think there would be more proactive fiscal policies to come action but most of those announcements will come likely in march. >> the new government has made several nods towards urbanization, so we've seen material stocks go higher. investors like to think of china in the growth sector. is that where you see some of the best opportunities at this point? >> we do see a lot of those sectors did run up after the urbanization push and all of the news media coverage around it. we see more details on the exact urbanization probably in march or april, but at this point i think there's numerous ways to go. the obvious interpretation is more infrastructure investment, but other than the, premier to be has been very focused on the social safety net issues as well, saying he needs to migrate more people into the urban areas. you need to provide better health care and better social housing, so don'tunder estimate what we might see. >> another long-term issue is basic manufacturing is starting
the economy is morrow less back on track. we think there would be more proactive fiscal policies to come action but most of those announcements will come likely in march. >> the new government has made several nods towards urbanization, so we've seen material stocks go higher. investors like to think of china in the growth sector. is that where you see some of the best opportunities at this point? >> we do see a lot of those sectors did run up after the urbanization push and all of...
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it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a finance ral disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. the last time republicans in congress even flirted with this idea our aaa credit
it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession, and ironically, would probably increase our deficit. so even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a finance ral disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans...
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. >> for the economy? i think we have to divorce the economy from the market. >> have we been price thatting that out? >> we have to be clear that markets are totally different from the economy. for the markets, we're looking at 2% scenario. scenario a would be similar to 2012 where i think actually the economy doesn't do that well. the first half is difficult. second half is a bit better. we've still got the fed printing 5 billion a month. we could see a rerun of 2012. maybe mid to single high digit returns. >> did you get exposure of citi to bofa here? >> we wouldn't be. we're taking a little bit of money off the table or indeed i think we did. the level of implied volatility makes perfect sense here. >> we'll leave it here for now. thanks very much. over to you, ross. >> kelly, thanks for that. so we are just about an hour and 20 minutes into the trading day here in europe. you can see advancers just about outpace decliners by a ratio of 6 to 4 and we're up near the high point of the session which has d
. >> for the economy? i think we have to divorce the economy from the market. >> have we been price thatting that out? >> we have to be clear that markets are totally different from the economy. for the markets, we're looking at 2% scenario. scenario a would be similar to 2012 where i think actually the economy doesn't do that well. the first half is difficult. second half is a bit better. we've still got the fed printing 5 billion a month. we could see a rerun of 2012. maybe...
SFGTV2: San Francisco Government Television
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man: infrastructure is vital to the american economy. water, after all, is an essential ingredient in hundreds of thousands of everyday products. narrator: agriculture and industry use roughly 80% of the water consumed in the united states. water is the basis for manufacturing many goods and provides the ability to clean and sterilize everything from computer chips to the surgical instruments used in hospitals. kelly: the minute that there's not enough water for businesses, industry, and individuals, they have to go elsewhere. and when they go elsewhere, jobs go elsewhere. your entire economy begins to suffer with the lack of clean water. narrator: while the water infrastructure provides for our health, safety, and economy, a growing concern is that the value society derives from water has not traditionally been reflected in the price we pay for water. man: when you take a look at how much people pay for water, as a percentage of median household income, it's usually less than 1%. and when you compare that to how much we pay for electric
man: infrastructure is vital to the american economy. water, after all, is an essential ingredient in hundreds of thousands of everyday products. narrator: agriculture and industry use roughly 80% of the water consumed in the united states. water is the basis for manufacturing many goods and provides the ability to clean and sterilize everything from computer chips to the surgical instruments used in hospitals. kelly: the minute that there's not enough water for businesses, industry, and...
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Jan 14, 2013
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economy. his comments will set the tone for a fed meeting scheduled for later in the month. >> it will be interesting to see how that jives with what we heard over the weekend, as well. . >>> also, following, apple's report is slashing orders for iphone 5 components because of weak demand. reports suggested the tech giant discussed cutting orders for its iphone. >>> president joe biden is delivering a recommendation on reducing gun voice to the president tomorrow. he said several proposals have broad support, including enforcing background checks and banning high capacity ammunition magazines. biden was asked to come up with the recommendations following the sandy hook shootings last month. >>> the debt ceiling dispute is heating up. the white house says congress can pay its bills or it can fail to act and put the nation into default. some reports suggest the government could run out of cash to pay all its bills as early as mid february. >> thanks for that. there's plenty to keep you entertain
economy. his comments will set the tone for a fed meeting scheduled for later in the month. >> it will be interesting to see how that jives with what we heard over the weekend, as well. . >>> also, following, apple's report is slashing orders for iphone 5 components because of weak demand. reports suggested the tech giant discussed cutting orders for its iphone. >>> president joe biden is delivering a recommendation on reducing gun voice to the president tomorrow. he...
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Jan 17, 2013
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economy. >> susie: and from chipotle to dunkin' donuts, did fast food chains meet investors' appetites for big returns? we're talking food stocks. >> tom: that and more tonight on "n.b.r."! >> tom: we begin with banking. two giant financial powerhouses reported big gains in fourth quarter earnings today. j.p. morgan chase booked its third straight year of record profits. and goldman sachs reported fourth quarter earnings that were almost triple the same period a week ago. erika miller reports. >> reporter: before we get to jp morgan's profits, let's talk about the earnings of it's c.e.o., jamie n.
economy. >> susie: and from chipotle to dunkin' donuts, did fast food chains meet investors' appetites for big returns? we're talking food stocks. >> tom: that and more tonight on "n.b.r."! >> tom: we begin with banking. two giant financial powerhouses reported big gains in fourth quarter earnings today. j.p. morgan chase booked its third straight year of record profits. and goldman sachs reported fourth quarter earnings that were almost triple the same period a week...
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Jan 17, 2013
01/13
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we've been talking about a sluggish economy. it is a tough environment for luxury as people trade down and start looking for bargains. joining us is susan lyne, chairman of gilt.com. she's also the former president and ceo of martha stewart living. also on set with us this morning our guest host, mellody hobson. susan thank you for joining us this morning. >> thank you. >> i checked out gilt.com and i have to say, these are great brands at great prices. >> it is. >> how do you offer some of the bargains you're offering? >> you know, we've got long relationships now, we're about five years old, with many of the top brands, and they realize this is a great way for them to sell excess inventory and everyone has excess inventory because these are event-based sales. they're quick. and consumers love them. >> i've seen you run out of stock quickly on these things. buy it now or it's gone type of situation. >> yep. >> is it a difficult environment for luxury right now? is that a fair estimation? >> our sector has had a fantastic holida
we've been talking about a sluggish economy. it is a tough environment for luxury as people trade down and start looking for bargains. joining us is susan lyne, chairman of gilt.com. she's also the former president and ceo of martha stewart living. also on set with us this morning our guest host, mellody hobson. susan thank you for joining us this morning. >> thank you. >> i checked out gilt.com and i have to say, these are great brands at great prices. >> it is. >> how...
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Jan 20, 2013
01/13
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in the tough economy-- >> but the union job growth much. >> i'm going to stick to topic, but i don't want people to think because it's a right to work state. i'm telling you, it's not. and for a guy that's been at a couple of protests and strikes, my dad was a union guy i'm a big supporter of unions, particularly private sector unions, not public sector unions. >> neil: that's the point on the message, is why we have a stark correlation between non-- nonunion factory jobs growing, and union factory jobs. >> in a tough economy those jobs pay more than the $3 an hour you get when you're a nonunion worker and those jobs get cut first. >> neil: adam, what do you think of that. >> well, i don't think it's any shocker, first of all, that as we've already been saying that there's been a shift. this shift has been going on for a long time. and we could, at some point we'lltick a fork in the unions because clearly, they're dwindling. having said that, there's also no shock that these organizations are going to act in their self-interest. we could do whole shows on other sectors of the economy
in the tough economy-- >> but the union job growth much. >> i'm going to stick to topic, but i don't want people to think because it's a right to work state. i'm telling you, it's not. and for a guy that's been at a couple of protests and strikes, my dad was a union guy i'm a big supporter of unions, particularly private sector unions, not public sector unions. >> neil: that's the point on the message, is why we have a stark correlation between non-- nonunion factory jobs...
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Jan 15, 2013
01/13
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economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big
economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below...
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Jan 14, 2013
01/13
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the economy moving. and we're basically in that situation right now. all the productive capacity is there. all that's lacking is the intellectual clarity and the political will. >> you make this so clear in the book, that's why i recommended that president obama read this book as the one book i would like to see him read before the inauguration next week. if he read it, what would you hope he would fasten on? >> i would hope that he would fasten on the notion, you know, he faces real political constraint. so we understand, he can't just pass legislation. but that the most important thing, his policy priority right now should be doing whatever he can to at least move in the direction of the kinds of policies that we want for full employment, that we need for full employment. and that the obsessions of washington about a grand bargain on the deficit are really pretty much beside the point right now. that, if given a choice between doing something that will help the economy in the next two years, and someth
the economy moving. and we're basically in that situation right now. all the productive capacity is there. all that's lacking is the intellectual clarity and the political will. >> you make this so clear in the book, that's why i recommended that president obama read this book as the one book i would like to see him read before the inauguration next week. if he read it, what would you hope he would fasten on? >> i would hope that he would fasten on the notion, you know, he faces...
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Jan 16, 2013
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he can work on the economy and do something about gun violence. i don't think americans wanted to sit by. they want background checks. they want their children to be safe and keep their gun rights, too. all of that can be done with commonsense proposals, making sure people have their guns registered one way or the other. a lot of republican s and conservative democrats are standing in front of that because they want to make money with the gun industry instead of caring what the american people want. >> thank you so much for the interesting conversation. >>> is walmart's $50 billion pledge to build american-made products just bait and switch? some say it's a ploy to make you forget that the giant retailer also sells assault rifles. . uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of a day's fiber. fiber one. stress sweat is different than ordinary sweat. it smells worse. get 4x the protection against stress sweat. introducing new secret clinical strength
he can work on the economy and do something about gun violence. i don't think americans wanted to sit by. they want background checks. they want their children to be safe and keep their gun rights, too. all of that can be done with commonsense proposals, making sure people have their guns registered one way or the other. a lot of republican s and conservative democrats are standing in front of that because they want to make money with the gun industry instead of caring what the american people...
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Jan 16, 2013
01/13
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the dividend will account for a larger share of the stock's total economy. liz: so the stock actually went up in price? >> i think we are headed back towards the 50s. it is an important trend and i think we are trending towards 50% there. liz: it's like we've been slammed in hammer. it's now a $4.36 price here. we like maggie, she's a smart leader, but you can't -- you talk about the dividends? >> it's important to look at the company. in total it has to have appreciation potential. liz: why canada? >> they surpass the u.s. on the economic freedom index. they are ahead of us now. liz: what are the metrics for the economic freedom? >> is a whole monetary fiscal policy. liz: is a great for businesses? >> it is. they ought to be the fiscal model of the g7. if you look at corporate taxes, they are all trending in the right direction from a public standpoint. the country has a lot of natural resources. liz: but you don't want to become like australia. >> in terms of being a natural resource country, they do have a lot of natural resources companies, but they have
the dividend will account for a larger share of the stock's total economy. liz: so the stock actually went up in price? >> i think we are headed back towards the 50s. it is an important trend and i think we are trending towards 50% there. liz: it's like we've been slammed in hammer. it's now a $4.36 price here. we like maggie, she's a smart leader, but you can't -- you talk about the dividends? >> it's important to look at the company. in total it has to have appreciation potential....
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Jan 17, 2013
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the two things that came out today were that to drags on the economy, housing and employment. they are getting better and consistently better. the confidence will be there. here is the big fear. we have a climate of worry. we are at a plateau because the next is what is going on in washington d.c. that scares me more than anything have seen in this market in years. liz: i no d.c. is an issue. it is something we cannot control, sadly enough, but we can serve to control whether we are jumping into this market. people are still sitting on the sidelines holding their worries, missing rallies like this. >> that only cause more confusion because we are not really breaking out on explosive volume, which is also another concern. with the breakup like this you want to see volume ramp up, which would indicate to you that people really have a change of mindset. at 400 million shares, you are not really breaking out yet. some people -- liz: composite track. that would be the highest. let me get to the energy complex. everything is higher right now, jonathan. is this all the very tense and
the two things that came out today were that to drags on the economy, housing and employment. they are getting better and consistently better. the confidence will be there. here is the big fear. we have a climate of worry. we are at a plateau because the next is what is going on in washington d.c. that scares me more than anything have seen in this market in years. liz: i no d.c. is an issue. it is something we cannot control, sadly enough, but we can serve to control whether we are jumping...
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Jan 20, 2013
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but i think we have to deal with some of the consolidation issues. >> who are the people in the economy that you rely on during this time? >> it kind of depends on the issue. those on food safety issues and, you know, this debacle with the farm bill, we haven't had a lot of support from anyone, certainly not debbie stabenow, who i used to work with and it's very disappointing. as well as the senator from michigan that we thought we could send to some of these two companies. it's not a joke. people have to keep these elected officials honest and you have to have their constituency. so that is really what our organizers have focused on. >> you mean that organic food is not worth anything? that is something else that the industry influence and paid for. i don't think much of it. >> thank you so much for coming. we really appreciate it. [applause] >> wenonah hauter is the director of food and weather watch. for more information visit food and weather watch.org. >> we are here with judge block. you were brought into the court in 1994. >> yes, i was nominated by president clinton and recommen
but i think we have to deal with some of the consolidation issues. >> who are the people in the economy that you rely on during this time? >> it kind of depends on the issue. those on food safety issues and, you know, this debacle with the farm bill, we haven't had a lot of support from anyone, certainly not debbie stabenow, who i used to work with and it's very disappointing. as well as the senator from michigan that we thought we could send to some of these two companies. it's not...
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Jan 16, 2013
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the 2013 ram 1500 with best-in-class fuel economy. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. motor trend's 2013 truck of the year. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> welcome, everybody. today, president obama unveils his plan to curb gun violence in america. the issue debated all across the country
the 2013 ram 1500 with best-in-class fuel economy. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. motor trend's 2013 truck of the year. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one!...
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Jan 17, 2013
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. >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 years of philanthropy at carnegie.org. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by macneil/lehrer productions captioned by media access group at wgbh access.wgbh.org captioning sponsored by wpbt >> this is n.b.r. >> susie: good evening everyone. i'm susie gharib. blockbuster earnings from j.p. morgan, and goldman sachs. but will they be able to keep up the pace? >> tom: i'm tom hudson. the growing concern over america's ability to pay its i.o.u.s is turning into a debate over the definition of a "debt default." why washington's wrangling could hurt the u.s. economy. >> susie: and from ch
. >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 years of philanthropy at carnegie.org. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the...
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Jan 18, 2013
01/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ♪ gerri: republicans go for a short-term increase in the debt ceiling, but how can we tackle our long-term problems? grover norquist year in 60 seconds. ♪ ♪ gerri: retreating or regrouping? house republicans putting to a vote raising the debt ceiling for three months, but are they backing off of their demands for spending cuts in exchange for raising the debt limit? with more on this, grover norquist, president for americans for tax reform. great
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a...
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Jan 17, 2013
01/13
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economy isn't picture perfect, but it is positive. today's beige book report showed signs of solid overall economic growth. each of the fed's 12 districts showed either "moderate" or "modest" growth, steady or expanding real estate activity, and some growth in consumer spending from december through the first week of january. but the fed noted job market conditions didn't change much. one reason companies are cautious about hiring, is they are worried about fiscal uncertainty in the u.s. and that uncertainty is growing as some republicans in washington argue for a narrow definition of what it means for the government to default. skipping payments on government bonds would be a default they say. but skipping payments for other government services wouldn't be. this debate could have real consequences, as darren gersh explains. >> reporter: next month, the u.s. government will owe $38 billion in interest payments on the debt it's sold to investors here and overseas. but the u.s. government will take in about $210 billion in tax revenues
economy isn't picture perfect, but it is positive. today's beige book report showed signs of solid overall economic growth. each of the fed's 12 districts showed either "moderate" or "modest" growth, steady or expanding real estate activity, and some growth in consumer spending from december through the first week of january. but the fed noted job market conditions didn't change much. one reason companies are cautious about hiring, is they are worried about fiscal...
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Jan 19, 2013
01/13
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state and local level consumes one-third more of the economy in california and texas. said one-third of the nation beaufort one negative 11 negative welfare recipients are in california all there 1/8 of the population. everything. john: a percentage of households receiving public assistance is much higher in california and lower than average in texas. that means that you start the pork people. >> 42% lower cost of living in texas and california. u.s. census bureau has been criticized over 20 years for not taking into account the cost of living that different states with housing and food and clothing. john: there was the old poverty rate measure were texas lost 16 percent of the people in california were in poverty, of 17 percent in texas but now it includes the cost of living. >> and government benefits. with this new measure would week after the election news see the state with the highest poverty rate in the nation is california even higher than the district of columbia. that should be a warning to progressives who maintain the big government model is the path of to
state and local level consumes one-third more of the economy in california and texas. said one-third of the nation beaufort one negative 11 negative welfare recipients are in california all there 1/8 of the population. everything. john: a percentage of households receiving public assistance is much higher in california and lower than average in texas. that means that you start the pork people. >> 42% lower cost of living in texas and california. u.s. census bureau has been criticized over...
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Jan 19, 2013
01/13
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we need jobs in this economy for middle class people and that's what will make this economy stronger and so if we cut then we're going against that very basic economic principle. when you constrict the budget and cut off the flow of money, you're not going have as many jobs available. so i am not -- i am not in favor of drastic cuts in spending at this time, but i do think long term we should be looking at reducing our debt and restoring fiscal sanity to our budget. >> a group of house democrats, yourself included you want to do away with the debt ceiling law altogether. this is congressman jerry neven, this is what he had to say about it. take a listen. >> it is time to repeal the debt ceiling and today we're introducing legislation to do just that. instead of playing a game of chicken with the full faith and credit of the united states, we must deal with the economic and fiscal problems that face our nation responsibly without blackmail. >> congressman, why should congress step a bay from taway the debt limit process altogether? >> well, a statutory requirement to have a vote to in
we need jobs in this economy for middle class people and that's what will make this economy stronger and so if we cut then we're going against that very basic economic principle. when you constrict the budget and cut off the flow of money, you're not going have as many jobs available. so i am not -- i am not in favor of drastic cuts in spending at this time, but i do think long term we should be looking at reducing our debt and restoring fiscal sanity to our budget. >> a group of house...